Dr Craik, a long-time Women on Boards member, has served on the RBA Board since 2018, and her term expires on 6 May 2023.
She said as a fisheries biologist by training who worked mostly in public policy; particularly in the areas of agriculture and fisheries, environment, climate change, water she was honoured to be appointed to the Board and serve throughout the COVID pandemic
“I was very fortunate as it has been a fascinating time to be on the Board, arriving just prior to COVID, experiencing the impact of COVID and the Bank’s response to the crisis. I have learnt a great deal and enjoyed the experience. As has been prominent in the media, the recommendations from the review of the bank will result in some changes to the way in which the board works."
Dr Craik, who along with Mark Barnaba, did not seek reappointment to the RBA, welcomed the appointment of Elana Rubin, whose training is in law and finance, has been on the boards of listed companies, government entities and chaired a superannuation fund.
Treasurer Jim Chalmers, releasing a review of the RBA last week, announced two new board members - Ms Rubin and former president of the Fair Work Commission Iain Ross.
“This is an opportunity to refresh the Reserve Bank board and I really wanted to pay tribute and thank Mark Barnaba and Wendy Craik,” Chalmers said.
“Both of them have indicated that they are prepared to not be considered for further reappointment and I think that’s a good thing for the Reserve Bank board. It does give us that opportunity for an element of renewal.”
Ms Rubin is a NED with Telstra, Slater and Gordon and Chair of VMIA (Victorian Government’s insurer and risk adviser) was formerly Chair of Afterpay.
Mr Ross is a former head of FWC who has also been a vice president of the Australian Industrial Relations Commission and a former judge on the Supreme Court of Victoria.
Mr Chalmers said Mr Ross and Ms Rubin would bring high levels of skill to the bank board.
“They will help ensure the Board is well-equipped both to deliver monetary policy in an increasingly complex and uncertain environment, and to implement the recommendations of the RBA review.”
Ms Craik, also recently completed her role as independent Chair of the Steering Committee overseeing the National Ten Year Eradication Program for Red Imported Fire Ants, said she plans to “keep her hand in”, Chairing the OneBasin CRC, as a board member of the Australian Pacific Finance Facility for the Pacific and as treasurer and audit committee member of several local associations.
WATCH: WILL OUR CLIMATE BE A CASUALTY OF COVID?
In this recorded WOB panel presentation Dr Wendy Craik AM and Emeritus Professor Ian Nobel ask: Will Australia and the world have the money, the energy and the discipline to commit and carry through with CO2 emission reduction targets through cleaner energy and better practices, or will our climate be another casualty of COVID? Watch as a webcast, or listen as a podcast. The webcast is part of a series of On Demand webinars available FREE to download for Full, Premium and Corporate members. Not a member? Click HERE to upgrade your membership.
Click HERE for the webcast or podcast
LISTEN: WENDY CRAIK - A WOMAN OF MANY FIRSTS
Dr Wendy Craik AM is often described as a woman of many firsts - the first female head of the Great Barrier Reef Marine Park Authority, the first woman to lead the National Farmers' Federation and the first woman Chief Executive of the Murray Darling Basin Commission.
An independent public policy advisor, particularly on issues related to natural resource management, Wendy has over 25 years' experience in public policy including as former Chair of the Climate Change Authority - the body which reviews and advises the government on climate change policy. In this podcast Wendy talks to Claire about her long and interesting career, which has spanned much of our continent and concentrated around natural resource management.
Listen to the podcast HERE